Ordinance No. 244ORDINANCE NO. 244
AN ORDINANCE DETERMINING TO ACQUIRE
WORKS OF THE TAHOE SOUTHSIDE WATER
UTILITY AND AUTHORIZING THE EXECUTION
OF AN AGREEMENT THEREFOR
BE IT ENACTED by the Board of Directors of the South Tahoe
Public Utility District, E1 Dorado County, California, that
WHEREAS, pursuant to Section 16841 of the Public Utilities
Code of the State of California and by its Resolution No. 1872,
adopted on the 8th day of January, 1974, this Board has determined
that the public interest and necessity of the District demand the
acquisition of certain public utility works known as the complete
water system of the Tahoe Southside Water Utility, hereinafter
referred to as the "Works";
WHEREAS, pursuant to Section 16842 of the Public Utilitie~
Code of the State of California, this Board has procured plans and
estimates and negotiated for offers for sale to the District of said
Works; and
WHEREAS, there has been presented to this Board the terms
of an agreement for acquisition of said Works which agreement is on
file in the Office of the Clerk of the District, more particularly
describes said Works, and is hereby incorporated herein by reference;
NOW, THEREFORE, it is hereby DETERMINED AND ORDERED, as
follows:
1. That it is for the best interests of the District that
the District acquire said Works.
2. That the cost of acquisition of said ~orks is Nine
Hundred Fifty-Three Thousand Five Hundred and 00/100 Dollars
($953,500.00).
3. That the proposed method and manner by which said cost
of acquisition shall be paid shall be by the payment of equal annual
installments in the amount of Ninety Thousand and 00/100 Dollars
($90,000.00) each, which amount includes seven percent (7~) per
annum, over a period of twenty (20) years commencing one year after
the effective date of ownership by the District of said Works.
4. That said cost of acquisition of said Works can be
paid out of the revenues of the District derived from operation of
its public utilities, in addition to other necessary expenses of the
District, and shall be paid out of revenues of the Works to the
extent that such revenues are sufficient.
5. That it is hereby determined to acquire such Works.
6. That the President of the District should be and is
hereby authorized and instructed to sign the aforesaid agreement for
acquisition and the Secretary should be and is hereby authorized and
instructed to attest to such signature and to affix the seal of the
District to said agreement.
7. That this Ordinance shall take effect 30 days after
its final passage; that at least one week before the expiration of
said 30 days, copies of this Ordinance shall be posted at three
public places in the District; and that this Ordinance shall be
published once a week for two successive weeks in the Tahoe Daily
Tribune, a newspaper printed and published in the District, with the
first publication to be not less than fourteen days prior to the
expiration of said 30 days.
Clerk and e~-officio Secretary
~preSident, South Tahoe Public
Utility District
2
I hereby certify that the foregoing Ordinance was duly
and regularly introduced and adopted by the Board of Directors of
the South Tahoe Public Utility District, E1 Dorado County, California,
at a meeting thereof duly held on the ?th day of February, 197~, by
the following vote:
AYES,
NOES,
ABSENT,
Directors: Wakeman, Fesler, Kortes, and Ream
Directors: None
Directors: Hegarty
~terk and ex-officio Secretary
(SEAL)